10-Year Investments You Should Make When You Hit 50
As you hit 50, the reality of retirement starts to sneak into your thoughts. In another decade and a bit, you may be able to retire. Perhaps, if you play your cards right and make smart financial decisions, you could enjoy an earlier retirement!
Keeping that thought in mind, when you turn 50, you should start thinking about some 10-year investment ideas. These investments can be made now and will generate decent benefits after a decade. Then, you'll be able to cash in on them and reap the rewards as you prepare for retirement.
So, what things should you keep your eye on?
We can’t talk about 10-year investment plans without mentioning real estate. Historically, it is the biggest consistent gainer over a 10-year period. If you invest in property now, it’ll generate sizeable returns by the time you’re 60 or older.
One smart tactic for large 10-year gains is to join a real estate syndicate. This is where you pool your funds together with other investors to purchase properties that are way out of your personal budget. It could mean owning multiple houses or commercial lots and generating income this way. You have resources like syndication attorneys who can help the entire group deal with transactions and such to get the most out of the investment.
Stocks and shares
You should also keep an eye on the stock market for 10-year growth ideas. It may not seem like a huge amount of time, but consider some of the companies you see nowadays and think about where they were 10 years ago.
Tesla is a fine example of this. There’s an article by Fortune Recommends that states if you invested $1000 in Tesla five years ago, you’d have nearly $5000 by now. If you can find a company that seems like it has a bright future over the next ten years, there’s potential to make lots of money via the stock market. Be sure to speak with a financial advisor before making any decisions, so you can make the most informed investments possible.
Investing in your own education when you’re 50 is one of the smartest things you can do. You want to retire and enjoy life without worrying about work. However, life with absolutely no work can be boring. Investing in your education can help you develop skills over the next decade to fund projects and ideas, or just keep busy, when you retire!
For example, you could spend years learning all about web development and blogging. When you retire, you can set up a website and make money writing about your passions. Alternatively, you could educate yourself about mechanics and fixing cars. As retirement rolls around, you’ll have 10 years of learning under your belt and could begin a cool venture where you buy old cars and fix them up. The possibilities are endless, which is why your education can be the best investment to make.
We have suggested three investments you should make over the next 10 years when you turn 50. Fast forward a decade from now and you’ll be 60 years old with some great investment gains under your belt, ready for an early and prosperous retirement!
DISCLAIMER These are only suggestions; there are no guarantees. Always consult a qualified expert when making plans and investments for the future.